The Hope pioneer., 1887-10-14
VIII Wheat be HIGHER.

This is question that is dwelt on more than
anything else to-day. We have studied it and
dwelt upon it. Following are few facts that
we have gathered from time to time and prob
ably are as safe to base conclusions on as any:
During the five years previous to Jan. l,
1854, Europe bought wheat of US to the value
OF Sl94, ,579, 722 per annum, at an average price
of S1.26 per bushel. Since 1854 her purchaees
have fallen to $1133l7, ,159 per annum, and the
price paid per bushel has fallen to ninety-one
cents, thus entaiing loss to the American
wheat raiser of more than $7l ,00O, 900 per an
nun. Naturally the American wheat grower
has been feeling this loss keenly and has been
looking out to see what caused it."
There it is as we gather it:
England found that one of her colonies,
India, could produce in unlimited quantities
fair quality of wheat and at a very low cost
ard that she would be glad to supply England
with wheat and take English goods in pay
ment. The only difficulty was the great cost
OF transportation between India and Great
Britain. England set TO work diligently to
minimize the cost. She bought the Suez canal,
which had recently been built by the French
under the direction Of NJ. DeLesseps, thus re-
ducing the time between London and Calcutta
from six months to thirty days. She spent
hundreds Of millions of dollars in opening up
railway communications between the coast
and the interior of India. She replaced her
old line Of sailing vessels with steamships, and
has twice within the last twelve years. replaced
extensive fleets OF steamers with Others
speedier, and more economical. The result
has been that the cost of carrying bushel of
wheat from Bombay to London has been re-
duced from 1925 in 1850 to 1872 cents in 1885,
and the Indian ryot has thereby been brought
into formidable competition, for the European
grain trade, with the Dakota wheat grower.
What we have further to say on this subject
has been so we'll expressed by writer in the
New York Nation-a journal of the highest
authority on all economic questions-that we
can do no better than quote the article at
length:
"a world wide revolution Of commerce is
taking place, akin to that which followed the
opening Of the SueZ canal-a revolution not
to our advantage. What are we going to do
about it?
''The first thing that strikes u.s. is that our
competitors in the production Of wheat and
cotton are really only 'pauper laborers,' that
we are brought into contact with; the Indian
yyot and Egyptian fellah work for less pay
than any other laborers in the world, except
possibly the lowest class Of Chinese in their
native land No Chinaman in the United
States ever worked for such pitiful compensa-
ton. 1t follows that the American farmer and
planter are competeing with the cheapest la
Dor in the world, and there is no way to pro-
tect them. We can neither ''tariff'' nor mob
the paupers Of India and Egypt. We have
got to face the fact that wheat sells in Liver
pool at 81 cents bushel. There is no Ger
tainty that the prices will be as high next year
as they are now. The chances are that they
will be lower in ten years from now than they
are to-day, since the facilities which have
given us the advantage in the past are getting
into the hands of our rivals.
''We have got to compete with these coun-
tries in tho production Of wheat and cotton.
There is no getting around that fact. If they
eau furnish these staples cheaper than we can,
enCJ Will tdhc lilO uidi hoL away lTOW US. IL lB
needless to speculate upon the gold supply or
to discuss the silver question as factor in
making prices. Whether the gold supply be
more or less, whether silver be coined or not
coined, the superiority Of Indian and Egyptian
producers, if they have a superiority remains
the same. Whether wheat sells in Liverpool
at 81 per bushel, or at 81, or at so cents, tho
relative positions of the rival producers are
unchanged. There is no way under the heav-
ems to recover our superiority, If we have lost
it, or to retain it if we have not lost it, but to
sell at lower price,"
This fact settles in our mind the possibility
of much higher prices. That the present price
is about an average price, that the farmer may
figure on. That nothing short OF great war,
or an extreme failure of wheat will raise it
much above, or that an extremely heavy crop
WILL send 1t much below the present price,
En-.
Webster's definition OF the word 'desert'
ho s,lf T,, a.